Every athlete has experienced the nightmare match–before you can get your sweatbands on your opponent has run the score on you and is already up one or two games in a three of five match. And worse your game is snake-bit. Nothing works. And there is no way to stop the damage. It just gets worse and worse until you are shaking hands to congratulate your opponent and you wish you hadn’t got out of bed.
This pretty much describes our feelings about the last several weeks as we have tried to deal with a greased pig market. The market zigged, we zagged and vice versa. Eventually we wound up with a virtually flat position and didn’t benefit from the advances at the end of this chart. Through these frustrations we have tried to inform our readers as to the best investment posture and strategy.
At last, at present, we appear to have a formation which can be analyzed. It may be just another greased pig –or not. It may be an example of the alphabetagamma pattern.
(http://www.edwards-magee.com/ggu/alphabetazetawaves.pdf) We have labeled the wavelets 1,2,and 3. 1 is the alpha wavelet, 2 is the beta and 3 is the gamma wave. The zeta wave follows.
Short term traders and long term traders looking for an entry will try to catch a piece of the zeta wave.